"I would like to debunk though a statement and notion that originated in The Washington Post that a potential trade would have put our team in the luxury tax and thus we “turned down” a deal because we were “unwilling to commit” financially," wrote Leonsis on his blog. "That is simply not true. First, we would not have gone into the luxury tax – that is simple math. Second, economics were not a factor.

"I am not shy about making financial investments in our teams. Simply look at the history of the Capitals and see the progression of our payroll. Additionally, the Wizards used the amnesty provision this past offseason as a financial tool to reconfigure our team. It is public knowledge that we have taken on some of the most significant contracts in the NBA and NHL. We have a track record, and these are concrete examples. Our fans know we will invest in our teams."